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borteleto borteleto
wrote...
Posts: 2477
Rep: 2 0
5 years ago
You estimate you'll need $200,000 per year for 25 years starting on your 65th birthday to live on during your retirement. Today is your 50th birthday and you want to make equal deposits into an account paying 9% interest per year, the first deposit today and the last deposit on your 64th birthday. How much must each deposit be (rounded to the nearest $10)?
A) $99,920
B) $85,840
C) $66,909
D) $49,380
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
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guzmanguzman
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Posts: 1067
5 years ago
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borteleto Author
wrote...
5 years ago
Commenting just to show my support for informative posts like this, keep it up 10/10
wrote...
5 years ago
That helps more than you thinks, thanks for being so thoughtful
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